BGC is the world's largest wholesale exchange and has doubled revenue every year since 2022, making it number one in inter-dealer brokers by revenue. The Fanatics prediction-markets deal and emerging technology/AI push should extend momentum, and the broader Cantor platform adds scale, land and capital.
Cantor remains a big believer in crypto and digital assets despite ebbs and flows. Stablecoins make cross-border payments more efficient and tokenization allows 24/7 trading of stocks, so the market is naturally progressing toward these technologies. He sees this as a real-world use case, not just a speculative cycle.
Newmark, the commercial real estate brokerage, is seeing double-digit growth across all major areas and has made huge strides in the AI infrastructure space. As part of Cantor's platform, it can use data and AI to predict building and lease values and serve clients better.